NEW YORK, April 11, 2013 (GLOBE NEWSWIRE) -- INTL FCStone Inc. (Nasdaq:INTL) today announced that its subsidiary, INTL Hanley, LLC, expanded its precious metal trading capabilities through the addition of Peter Thomas and Thomas Garland as Senior Traders focusing on North American Precious Metals operations.
Thomas and Garland join INTL Hanley, LLC from a Chicago-based metals firm where they developed two electronic trading systems in the buying, selling, hedging, storing, shipping and insuring of precious metals around the world. The first of these two systems, now known as INTL Bullion Cart (www.intlbullioncart.com), allows traders and dealers to acquire precious metals via a convenient, web-based interface. INTL Tornado Precious Metals Trading System (www.intltornado.com) is a trading system that allows traders and dealers to hedge their price risk whether buying or selling. The combination of these two services provide counterparties that qualify as Eligible Contract Participants with an integrated solution for not only managing their price risk but many aspects of their precious metals inventory management needs.
George Hanley, CEO of INTL Hanley, LLC, said, "Adding Peter and Thomas to the team is a major step forward in helping our customers operate their businesses as efficiently as possible. Their experience and expertise combined with the technology they have developed will allow our customers to take advantage of some of the most advanced tools available in the industry."
Jeffrey Rhodes, INTL FCStone's Global Head of Precious Metals, commented, "Bringing together this team, their technology and the resources of INTL FCStone Inc. provides our customers the unique ability to reduce box risk exposure for smaller retailers around the world. Anyone with a PC or even a smart phone can hedge their price risk exposure when buying or selling precious metals."
About INTL FCStone Inc.
INTL FCStone Inc. (INTL) provides execution and advisory services in commodities, currencies and international securities. INTL's businesses, which include the commodities advisory and transaction execution firm FCStone Group, serve more than 20,000 commercial customers in more than 100 countries through a network of offices in twelve countries around the world.
Further information on INTL is available at www.intlfcstone.com.
Commodity trading contains risk, and you should refrain from entering into any OTC derivative transaction unless you have fully understood the terms and risks of the transaction including the extent of your potential loss. In evaluating the risk and contractual obligations associated with a particular OTC derivative transaction, you should also consider that an OTC derivative transaction may be modified or terminated only by mutual consent of the original parties and subject to agreement on individually negotiated terms. Accordingly, it may not be possible for you to modify, terminate or offset your obligations or your exposure to the risk associated with a transaction prior to its scheduled termination date.
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INTL Hanley, LLC and/or our affiliates may from time to time take proprietary positions and/or make a market in instruments identical or economically related to OTC derivative transactions entered into with you, or may have an investment banking or other commercial relationship with and access to information from the issuer(s) of securities, financial instruments or other interests underlying OTC derivative transactions entered into with you. INTL Hanley, LLC and/or our affiliates may choose to hedge their obligations by entering into derivatives and/or trading in one or more instruments, such as options, swaps or futures. The cost associated with such hedging activity could affect the market value of or the price at which we would be willing to enter into a transaction. Further, we may internalize order flow or route it externally for execution. In the event that we choose to match orders internally you should be aware of the fact that the amount of money we receive is greater than if we executed the order externally.
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The press release has been prepared solely for informational purposes for those to whom it was distributed. The press release is not meant to be, nor shall it be construed as, in any way an offer or commitment to enter into any transaction or result in a binding obligation by INTL Hanley LLC or any of its affiliates. Any opinions expressed herein are subject to change without notice. Certain information in this press release has been made based on information from third party sources that we believe are reliable, but we have not independently verified any of this information.
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CONTACT: INTL FCStone Inc. Kent Coughlin Director of Public Relations +615-234-2756 firstname.lastname@example.orgSource:INTL FCStone Inc.